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I've been following this theory for a couple years now and it seems to be the most accurate of the economic theories. Who else follows the Austrian school of thought?

I'm sure you know that I do.

I have since the 1980s, even though I didn't then know it was called that, i.e., I had read books by Hazlitt, Mises, and Hayek, and acquired my understanding of economics from them, but it wasn't until several years ago that I came to realize that it wasn't just plain old, common sense, conservative, economics (a modern continuation of classical laissez-faire free-market economics), but something called the Austrian School of Economics. Since then, I've added Rothbard to my reading list.

I first learned about this theory by reading/watching people who predicted the '07 crash. Ron Paul and Peter Schiff got me started on the Austrian theory.

Two great sources for it. I follow both of them, as well.

Enjoy this. It's free.

https://online.hillsdale.edu/econ101

Unfortunately, it looks like this theory will be proven right once again this year. The media will blame it on this or that and more currency will be created thus creating a bigger problem down the road.

That was when I was awakened too.

Austrian and / or Milton Friedman's Chicago, not the Neo-Keynesian New Chicago School, Schools of Economics are real Economics studying how economies do and should work the others are schools of 'Public Economics' inventing justifications for evermore government spending and intrusion in economies.

Rothbard makes clear in What Has Government Done To Our Money that Friedman was indeed a neo-Keynesian.

The old geezers at work explained a lot of it to me. My mind is cluttered as it is so I have never split the hairs by studying it like I probably should have.

I seem to like Thomas Sowell, but I don't know if he fits the Austrian mold.

I did watch the monstor from Jekyl Island several years ago, and I have had lunch twice with Edwin Vieira.

They say Rothbard is good on the theory of money, but isn't he of the school that says we ought to sub-contract the military to insurance companies??? or is that someone else?

I am certain of one thing; the founders wanted a metal backed money, NO fiat. AND.... fiat currency is sinful because it is a form of theft. The law of Moses mandated honest weights and measures in the market place of vegetables and grain. Dishonest weights in several places are called an abomination. I try to give a bakers dozen in my dealings with mankind.

Here is a pithy quote that sums it up.... from a fellow around here that takes a lot of flak!

"The regime under which we've been living since 1913 is one designed from top to bottom with the purpose of shifting all the wealth that's generated by the people at large to the international banking and governmental sectors. Along the way, it punishes responsible and efficient business models while rewarding irresponsible and inefficient ones. A free market, which is what we need to get back to in order to address your concerns, does the opposite."

That is spot on!
It is designed theft.

Just came into this. Enjoy

Wow...a pro -Austrian School thread on here that wasn't started by me! Brilliant!

There's a definite sea change going on among the grassroots in this country. It's A Good Thing.

I have been a believer since reading Hayek, The Fatal Conceit is the only economics book you need to read.

Bump to let it be known that the Ludwig von Mises library is housed at Hillsdale College.


;-{>8

"So, if Austria has the best economic theory, how come they aren't the world's dominant economic super power?", asked the student in the back of the lecture hall who was attending college on an athletic scholarship.

Yep, excellent book. Goes far beyond economics, too.

Bwahahaha!

Someone's a tad full of himself.

My daughter does. She completes her double major in Economics and Political Science this year. Then it's on to Graduate School for her PhD in Economics.

She's attended the Mises University the last two summers, and has applied for this year too. She started a YAL (Young Americans for Liberty) on her campus and has been extremely active in the program. The movement is small, but it's been gaining traction and numbers every year.

There's hope for our young generation yet I believe...